- Marki Bauman opened the Abu Dhabi hub after receiving regulatory approval from ADGM’s monetary authorities.
- The Center East hub gives regulated banking providers to cryptocurrency, blockchain and know-how corporations.
- The Abu Dhabi operations are coupled with the Zurich-based know-how banking experience constructed up since 2019.
Swiss non-public financial institution Maerki Baumann & Co. Ltd. has opened a department in Abu Dhabi following regulatory approval from the Monetary Providers Regulatory Authority (FSRA) of the Abu Dhabi International Market (ADGM).
The Abu Dhabi department operates inside ADGM, the emirate’s worldwide monetary heart. The financial institution mentioned the native entity will serve blockchain, crypto-native and technology-focused corporations by offering banking infrastructure and entry to regulated monetary providers. This enlargement builds on Maerki Baumann’s early entry into the digital asset sector beginning in 2019.
ADGM approval permits regional enlargement
With the acquisition of the ADGM license, the financial institution has established a Center East presence beneath the “ARCHIP” model. This construction brings collectively providers tailor-made to purchasers within the cryptocurrency and know-how sectors. These providers embrace company banking, liquidity administration, buying and selling, custody, staking, and digital asset administration for particular person, institutional, and company clients.
Though the hub is in Abu Dhabi, customer support will proceed to be supplied via the financial institution’s tech banking division in Zurich. The financial institution mentioned the division has supported tons of of know-how and crypto clients.
Management and administration construction
The Center East hub is led by lawyer Andreas Froehlicher, who beforehand served as Head of Authorized and Compliance and Common Counsel at Maerki Baumann. He has held a task within the financial institution’s crypto-related technique since 2019 and is at present primarily based in Abu Dhabi. Mr. Fröhlicher will report back to Mr. Lucas S. Risi, Deputy CEO and Head of Personal Banking on the Financial institution.
CEO Stefan A. Zwahren mentioned in a press release that the ADGM license is a transfer within the financial institution’s worldwide enlargement. He mentioned the enlargement displays a long-term deal with technology-oriented clients, whereas sustaining continuity of the financial institution’s current capabilities with operational help from Switzerland.
Maerki Baumann’s transition to digital property has influenced the corporate’s broader enterprise mannequin over the previous few years. Alongside its conventional non-public banking operations, the family-run financial institution at present serves tons of of company and particular person clients concerned within the cryptocurrency sector. The Abu Dhabi enlargement is according to that pattern, positioning the Center East hub as a regional entry level inside a regulated monetary setting.
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